"Broke" Is a Season, Not a Sentence

It’s an extremely vivid memory, even though it happened more than 20 years ago. An 80-something-year-old woman was handing me a large check—one of the biggest I’d ever received from a client at the time. She was adding to an investment she loved, and her hands trembled slightly, not from age, but from emotion. Tears welled in her eyes as she said, “I never thought I’d live to see the day when I could hand someone a check like this.”

She didn’t come from money. She was raised in rural Kentucky, married young to a man who fought as a Marine in World War II. Together, they scraped their way through the Great Depression and built a life that they were deeply proud of. They raised children who did well for themselves, and by any measure, their story had a happy ending. She never forgot what it was like to have nothing, though, and I don’t think it’s a coincidence that she ended up with so much.

I’ve worked with several members of America’s “Greatest Generation”.  These are people who knew how to stretch a dollar until it begged for mercy. I’ve also worked with plenty of their kids, who grew up in a different world. Not worse. Not better. Just different. Many of them never truly had to worry about money. They didn’t grow up rationing food or mending clothes. They started their adult lives with a clear set of advantages.

Through this, I’ve come to believe something that feels a little strange to say out loud: being broke when you're young might be a blessing in disguise.

Why Being Broke Builds Better Muscles

There’s a kind of strength that only forms under pressure. When you’re broke, you have no choice but to be resourceful. You learn the true value of things, not just in dollars, but in effort. A meal shared with friends, a reliable car that starts when you need it to, rent that’s paid on time…these are all “wins.” You learn how to cook, how to fix, how to wait.

Perhaps most importantly, you learn what you absolutely need and the many things that you don’t need.

A young person who has to pass on the new car or skip the trip abroad isn’t necessarily missing out. They might be laying the groundwork for a life that’s less fragile, less hungry for more, and more aligned with what matters.

Comfort Is a Terrible Teacher

There’s nothing wrong with comfort, but it doesn’t teach you much. When every want is easily fulfilled, when no real sacrifice is ever necessary, something crucial is lost. You run the risk of taking things for granted.  Moreover, you risk never really learning how to build anything yourself.

I’ve seen people earn a lot of money very quickly and spend it just as fast (or faster), because they never learned the habits that scarcity can teach. I’ve also seen people who spent their twenties pinching every penny, who now live with quiet confidence and enduring wealth, not because they struck it rich, but because they learned how to live well without excess.

Scarcity Can Give You Focus

When you don’t have a lot, you have to make choices. You develop a kind of clarity that people with endless options often struggle to find. You ask better questions. You’re forced to confront trade-offs early. Do I want to go out tonight, or save for something better? Do I buy this now, or invest in myself? These aren't just budgetary questions.  They are life questions. The earlier you start asking them, the better.

A Note to the Parents

If you’re a parent reading this, especially one who has done well for yourself, you might be thinking: “But I want my kids to have it easier than I did.” Of course you do. Everyone does, but don’t confuse “easier” with “better.” Sometimes, the struggle is the gift. Sometimes, the goal is not to remove all the obstacles. It is to make sure your kids have the chance to climb over a few on their own.

Let them work that crummy first job. Let them drive the car with a few dents. Let them feel broke. They might just end up grateful for it.

Conclusion

There’s no shame in having money, nor in wanting it. But if you’re young and broke, don’t be in such a hurry to escape it that you miss the lessons it has to teach. Some of the wealthiest, happiest people I’ve ever met started with nothing, and still remember what that felt like.

They may be the lucky ones.